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November 11, 2013
RE:Cost Segregation Services, Inc. (CSSI)
I am pleased to provide this recommendation for CSSI’s cost segregation services in recognition of its outstanding work analyzing and enhancing the tax footprint of 14 of Storage Pros’ properties.
Storage Pros recently engaged CSSI to study these locations in anticipation of generating accelerated tax savings. CSSI provided a compelling, conservative and risk-free estimate of projected savings for the locations. Ultimately, CSSI’s analysis identified in excess of $7 million of accelerated depreciation across the 14 locations – roughly double the initial estimate. This translates to current year tax savings of $2.8 million and approximately $2 million of benefit on a net present value basis (and after consideration of all fees).
I strongly recommend CSSI to anyone considering a cost segregation strategy for their properties. The CSSI team is friendly, accessible and possesses strong business acumen. I look forward to future opportunities to work with Cost Segregation Services, Inc.
John D. Price III
Executive Vice President & Chief Financial Officer
Why pay taxes before you have to?
If you are curious to know the impact of accelerated depreciation tax deductions through the application of cost segregation on your self-storage facility, CSSI will provide you with a no cost, no obligation preliminary analysis for your properties.
Simply share a depreciation schedule or provide the month and year of purchase and purchase price (minus land cost). CSSI can email an analysis and a conservative estimate of improved cash flow that will allow you and your tax professional to make a secure business decision on what is right for your tax situation. We usually find between $40K and $80K for every $1 million of your building purchase price.
Use It or Lose It
2014 is the last tax year to write off past building parts that were disposed of from renovation or replacement (roof, doors, HVAC, etc.). Add CSSI to your tax team and we will do the hard work of valuing these late partial disposition deductions and work with your tax professional to have them applied to your 2014 tax return.
With over 10,000 studies and 400 SBOA member buildings completed, CSSI is SBOA’s trusted Proud Vendor Partner and cost segregation tax specialist because “Friends don’t let Friends over pay their Taxes”.
Just ask John.
Call or email SBOA’s Cost Segregation Specialist Provider